Citylights
Started by anonymous
over 19 years ago
Posts: 8501
Member since: Feb 2006
Discussion about 409 Edgecombe Avenue in Hamilton Heights, Citylights at 4-74 48th Avenue in Hunters Point
(Discussing Citylights) Apartments at Citylights are quite undervalued, appraisals typically come in low due to lack of outside sales comps. Locate a unit with a NYC view or facing directly west for a secure investment. As construction costs have doubled between 03' & 06' the apartment values have not followed, as the area develops and outside comps are available expect the apartment values to increase substantially.
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meh, low ceilings and high maint. fees
More discussion at QueensWest.com
http://www.queenswest.com
Jake
City/river/west views are the way to go in this builidng/neighborhood.
high maint. fees
--agree, way too high
A troubled and troubling board. I'd go as far as to say that they are a bunch of bigots....beware.
Carl Ichan and Tim Cook to grow some nads and discuss a management buyout of APPLE given $150B in cash, no respect from public equity mkts and Bernie's free money!!!!
2nd on agenda. Apple to open amazon like shop for everything/internet portal and skim 10%. Just like iTunes.
3rd on agenda. Apple to introduce rice covered iphone to combat Samsung blatant copying of iPhones.
4th on agenda. Apple to give away reading glasses for older iphone users and 3lb weight for people worried about the small form factor!
Can you elaborate (if possible), louis1961? Because of the value for space, I'm considering buying in this building but am concerned to see so may apartments on the market for so long, and very few sales. If anyone could shed some light, I'd appreciate it. Thanks!
409 Edgecombe Ave: My Chase banker is a specialist on HDFC loans. He told me that Chase is soon reviewing the building for financing. If so the selling prices will go up. This building used to be financed by Chase. They stopped due to poor management and no financials for 2012. But the new company; Synoptic is very good.
The prices are low now because it is 'cash only' but once the bank comes back, the increased buyer pool, the rapidly populating neighborhood and all the space, light and high ceilings of these apartments is likely to make an outstanding investment. I am watching and want to get in just as soon as the bank comes back!
Has anyone tried to do financing with credit unions? Neighborhood Trust or Lower Eastside peoples Credit Union?
folkfic, four years have passed - I still see high maintenance, low selling prices and many units for sale.